1. Field of the Invention
This application relates to assessment of comparable properties and more particularly to assessing appraiser-chosen comparables against model-chosen comparables and other parameters.
2. Description of the Related Art
Appraisals are traditionally performed by human appraisers who assess a subject property and apply various factors to identify a set of comparable properties against which the value of the subject property may be compared. The results may be described in an appraisal report listing the comparable properties.
Appraisals may be variously used in connection with transactions including loan approval as well as downstream transactions. Appraisal reports may be reviewed in connection with the approval of transactions. They may also be reviewed at other times, such as to assess the appraisal, to identify the possibility of a fraudulent transaction, or to assess the work of an appraiser. Traditionally, this might be performed by an assessor who reviews the report, perhaps does some investigation, and then assesses the results.
The traditional techniques for reviewing and assessing appraisals are inconsistent and do not lend themselves to large scale review.
What is needed are techniques for quickly and accurately reviewing and assessing appraisals and corresponding appraisal reports.